Worst Case Scenario for Bitcoin & Ethereum (I’M SCARED)!!!

Man if this happens a lot of us are Going to think it's the bottom right Like because it's going to be like all Right four years you know like November December January and then I would say You know worst case scenario Cryptocurrency is in bad shape ladies And gentlemen you certainly don't need Me to tell you that although if you Subscribe to either myself or Benjamin Collins Channel surely you are pretty in Tune with what is going on in the Cryptocurrency space well in today's Video let's talk about Cryptocurrency's bottom the worst case Scenario let's keep things real you know Let's keep things real it's possible we See a worst case so if we do what is the Worst case scenario for cryptocurrency Here today is nuclear PhD engineer he Worked at Nasa now he is the CEO and Founder of into the crypto versus own YouTube channel and platform Ben Cowan How are you doing today Pretty good pleasure to be here as Always and always a reminder to my own Subscribers if you're new to altcoin Daily make sure you subscribe down below Awesome Before we jump right in anything new With you anything you you want to share Before we Dive In Uh we're gonna have our fourth child Next month so that should be should be

Interesting maybe you know December will Be some new life in my family maybe We'll also see some new life in the Cryptiverse by then a little hope well We we look forward to Baby cardano Joining us in the world Anyways Ben let's jump right into it What do we need to understand about Crypto markets today Yeah so I feel like there's a lot of Lessons we can learn from like investors A generation ago so you know there are a Lot of people that went through the.com Crash and it was brutal you know and I I Look at the chart and I'm just like wow Like you know think about how many times They must have thought the bottom was in Before the bottom was actually in and There are a lot of similarities between The.com crash back in the early 2000s And the crypto crash we're currently Seeing today and we've sort of followed This followed this for a while now and Now that we're you know the Bitcoin has Recently put in new lows I think it's Still worthwhile to consider this Potential scenario so if you go look at The NASDAQ back in 2000 you'll notice That it peaked and then after its peak Which also by the way if you just look At the.com stocks it was peaked at Around 3 trillion which is basically Right where crypto Pete in in 2021 right Around 3 trillion but after that the

Asset class as a whole retraced about 84 Or so so an 84 retracement from the All-time high and That seems like it's pretty standard Right for crypto I mean we we don't need A.com bubble necessarily to get to that Level we've seen that in in multiple Market Cycles but I want to explain why This scenario could in fact play out for The crypto verse what you may notice is That this was an 84 drop but in the drop Is what I want to focus on there were so Many bear Market rallies right every Step of the way that made people Question if the bottom was in and you'll Notice that early on just like with Crypto we had about a 40 rally in the NASDAQ after the bubble popped if you go To the total cryptocurrency market cap And you think back to January February And March we also had right a 40 Rally Or so to get everyone excited again and And you know think about okay like we're Just going to go back up higher and we Did it right we ended up dropping more And then I mean the NASDAQ had I mean There's some smaller moves back in here But the next big one was a 50 move back Up to the upside and then I think we'll Have we experienced a 50 move back up to The upside in crypto recently and of Course we have and if you go look at the Relief rally that we got from July Through August you'll notice that the

Total market cap increased just over 50 Percent So from here from here what I'm what I'm Really watching in terms of is it going To continue to follow this or not is the Next step for what the.com crash did The Next Step was to then go 20 percent Below that low right a 20 move to the Downside and then subsequently a 60 move Back up to the upside so this is what I'm watching really closely because Look you know you guys have been around Crypto forever we've seen we saw a major Bottom in December of 2018. we also saw I mean you could look at the chart Anyways we saw a major bottom in January Of 2015. so we are we know we're kind of In bottoming season right like these are The months during the bear market like You know November December January we Are getting into that phase where Historically the the asset class bottoms So what I'm really looking for is if It's going to follow what the.com crash Did you're still looking at a 20 move to The downside from the most recent low And that would put the the total total Market cap here if we take 20 down puts It at around 610 620 billion or so so uh And from the current levels that's not Even that much further down I mean we're Already at 746 billion right I mean That's just a Tuesday for for total Market cap to drop down that low so I

Think what I'm looking for as we get Into the end of the year Is how how deep does it go is it a is it A shallow low where we only marginally Drop just a little bit lower and then we Get a major rally man if this happens a Lot of us are going to think it's the Bottom right like because it's going to Be like all right four years you know Like November December January that Could be the bottom and that's been my Speculation how long is that you know at The next low past the June low we Actually have a real case that that's The bottom and and we don't have to look Back I think the only the the real main Concern is just how deep does it go and I would say if if total market cap goes Ahead and corrects down sort of this Final final extent and gets us maybe Somewhere between that four to five Hundred billion dollar level which by The way if we go to the four to five Hundred billion dollar level that gets Us to the lower bound on our total Market cap regression line right like so That would get us down here at the lower Part of this this green line which we Tend to touch every every few years if We go ahead and see that correction over The next month or two I think there's a Real case to be made that the bottom is In right like I think we could we could Make the case at the bottom of his end

If on the other hand it's a very shallow Correction and then we get some type of Like Face melting rally back up to the upside Where you know everything goes back up 60 here's something interesting if we Drop 20 down to 600 billion 620 billion And then get that 60 rally back up to The upside that puts us right back at About a one trillion dollar market cap So I think that's really what to look For and you know I I think the the worst Case scenario for total just to sort of Summarize is probably between the four To five hundred billion dollar range uh I think that the what's not clear is Exactly how long does it take us to get There But you think based on comparing it to The.com Bubble of the 90s if it were to Follow something similar to that then There needs to be lower prices Yeah I think so I mean I I think one of The reasons that's the case is because I I think the I and I I think a lot of That could actually come from more so The altcoin market I I think Bitcoin is Probably a lot closer to a bottom than Than some of the altcoins are I mean we Saw how bad the altcoin market got back In 2018 I mean you know you're talking About coins you know cardano which is When we we both talk about some I mean It went down almost 99 in 2018. but I

Mean like you know like I don't think People recognize that there's a huge Difference between like a 90 drawdown And a 95 and a 99 you know Solana is is Down 96 almost right ethereum is down I I don't know exactly but I know it has Gone down 80 at one point when it went Down to like 880. so I mean these these These all coins can get absolutely Wrecked at the very end of bear market So I I do think there's a good case to Be made that that a lot of the drawdown While it still could easily come from Bitcoin to some degree I think a lot of It still remains in the all coin Market And why compare cryptocurrency to The.com Bubble Well I mean I think to some degree look There are a lot of similarities first of All a lot of quantitative similarities Too they both peaked at three trillion But fundamentally I mean you're back in Back in the.com Crash we were looking at A lot of like companies that you know Their valuations were just like you know Um Insanely above what they should be they Weren't really making any money they Didn't really have any any utility you Had pets.com right I mean that just went To zero and and we also had the the the Dot combo where basically the.com Um that industry took over the Super Bowl everyone got excited about it and

Yolowed in and basically ended up being The exit liquidity you know for the People that wanted wanted to get out and I think we kind of saw something similar This time too we had the crypto Bowl Where a lot of these major platforms Took over the Super Bowl and and we had That January February March pump where I Think a lot of people just took that as The opportunity to get out and if they If they missed it back in 2021 And so you know I I mean look look at Where we are today everyone uses the Internet right like everyone uses this Stuff but what did it take it took that Major 84 crash it took going sideways For a while and and it took a long time Before it was integrated into our lives So I I think crypto is probably going to Follow a similar path I mean I think 20 Years from now we're all going to be Using cryptocurrency and we're probably Not even going to think think about it I Mean you know like like I'm on a Mac Right now I don't care what you're on Right like you could be on a Mac you Could be on a PC uh you could be on on Anything like it doesn't really matter And and that's the point with crypto in The future we might not care so much About like what network it is it's Probably not going to be that obvious to People it's just going to be like oh Yeah like who cares if he's using this

One there's so many bridges in between That it doesn't matter what they're Using there's going to still be Interoperative interoperability there so That's the reason why I compare it I Just think that you know we as humans we Like to front run everything so we see The potential for it we get a little bit Ahead of ourselves in terms of actually What the utility is we then come back Down to earth and then the people that See the vision they build throughout the Bear Market And they paved the way for new utility In the next poll Totally you want to take us off screen Share I think they say that people tend to Overestimate the the growth or the price Appreciation in the short term than Underestimate it maybe it's the adoption In the long term or something like that Right yeah I mean I think they a lot of People underestimate or they Overestimate how far it'll go in the Short and underestimate the long term Because I mean things over the long term I mean look at you know if you go if That that NASDAQ chart I mean think About that Peak we had back then we've Completely eclipsed that now even with The most recent drawn I'm like we're Still well above that Peak from the.com Era

Totally one of my final questions Benjamin because we talked about the Total crypto market cap which I like Because it talks about the whole Market But let's get in to the two coins That'll probably definitely be here in Five years Bitcoin and ethereum how low Do you think just how how low do you Think they could go Nobody Knows the Future Yeah so I can I can say like Hollow I think and Then I'll I can say kind of like a worst Case scenario and the worst case Scenario would be you know depending on How bad this potential recession ends up Being you know like I I it's hard to Know exactly how that's going to affect Crypto uh but I would say for ethereum The main levels that I'm watching are The four to six hundred dollar range so I don't know if it's gonna go all the Way down to 400 but I do think a 600 eth Is potentially in the cards mainly Because you know I I think there's a lot Of evidence to suggest that it's about One cycle behind Bitcoin in terms of its Volatility its first cycle is solid 95 Bear market and bitcoin's first bear Market was 90 94 Bitcoin second bear Market was around 87 so if ethereum goes 87 down from its all-time high this time Or even 88 that's gonna put it at just Below 600 so I think there's a case to

Be made that ethereum could have this Like final capitulation down into the Four to six hundred dollar range spend Some time accumulating there you know For a year or something maybe in 2023 And then and then we hopefully go back Up in 2024 or 2025. so I'd say that's Probably for ethereum uh uh I could have Get worse than that I mean I think Anything's possible it's hard for me to I can say I wouldn't be sitting on the Sidelines at that point if they you know If it's a four to six hundred dollar Range like I think that's where you just Hope you know Um hope it sticks for for Bitcoin you Know I don't think it has to drop nearly As much as as some of these other as Other these other altcoins uh for it to Actually be the bottom I I think you Could make a case the the main Indicators that I'm still looking at uh That it needs to trigger are things like Bitcoin normally has a daily close below Its balance price right now the bounce Price is just at 15K and and so that Would that would tend to make me think That we need to go below 15K at some Point Um there's some other indicators like The pure multiple which are at like Point you know 0.5 or something they Tend to bottom at around point three I Think there's a good case to be made at

The bottom somewhere between 10 to 14. Um and you know that would represent Like like an 80 to 85 drawdown from the All-time high which is pretty typical For Bitcoin right like this is pretty Standard Um with that said I mean I don't think It necessarily makes sense to just Completely sit on the sideline hoping For those prices because they may never Manifest and then I would say you know Worst case scenario so I would say my Base case is probably somewhere in that 10 to 14. uh worst case would be going Sub 10 and that would just be I I think The only way we get there is just you Know like if again like if we get some Crazy nasty recession or something and Everything is lower than people think it Will but that's not it's not my base Case just the worst case Ben Cohen thank you so much for sharing Your realistic perspective with us today The moment you know things in Cryptocurrency change all the time there Will come a point in the future where we Can look back and be like oh I think That was it I think that might have been The bottom make sure you subscribe to Myself and Benjamin because we keep you Updated on a regular basis Benjamin Final thoughts for the altcoin daily Audience Yeah final thoughts are Basically you know price based

Capitulation is one thing but I think The more important thing is is time Based capitulation it's not always about How far down it goes but it's just about How long does it take to get there and That's the hardest part I think for People to to get through is just like They they give up right like they throw In the towel they say enough is enough But again the secret like you and I like You and I have seen multiple times is Just stick around right like see what Happens stick around no matter what and Normally crypto will will pleasantly Surprise you eventually it rewards the People that stick around and the people That kind of leave so I would say you Know no matter how low the the price Goes whether the bottom isn't or not I think we are probably in like the last Third or even the last fourth of the Bear market like in terms of time so I Don't think we have that much further to Go but we always know the very end can Can be very difficult so I would say Just hang in there we'll get through it And then there should be plenty of good Times ahead appreciate it Benjamin thank You so much thanks for having me on

Coinbase
OUR TAKE

Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

Leave a Comment

    • bitcoinBitcoin (BTC) $ 50,767.00 0.64%
    • ethereumEthereum (ETH) $ 2,920.77 1.05%
    • tetherTether (USDT) $ 0.999842 0.35%
    • bnbBNB (BNB) $ 375.09 1.27%
    • solanaSolana (SOL) $ 99.63 1.77%
    • xrpXRP (XRP) $ 0.534245 0.71%
    • staked-etherLido Staked Ether (STETH) $ 2,918.30 0.95%
    • usd-coinUSDC (USDC) $ 1.00 0.4%
    • cardanoCardano (ADA) $ 0.573866 1.99%
    • avalanche-2Avalanche (AVAX) $ 35.59 2.06%